511372020 DEPRECIATION ACCOUNTING DEPRECIATION ACCOUNTING Total points Qe Please enter the correct name (as to appear in the Certificate) and Correct Mail ID (to receive the certificate) Email address * akhilstinivasan96@gmail.com Name * S.AKHIL Name of the institution working / studying * S.A.ENGINEERING COLLEGE Department * MBA hitpsuidoes. google. comiformside/FAlpQLSdNIyX: 1Em0-0uCqWVjKmeUnjoaEvpgtCKhPMla,- EOZAQAIKI- 207... 18511372020 DEPRECIATION ACCOUNTING Process of becoming out of date or obsolete is termed as: * 22 © Physical deteroization Depletion obsolescence Amortization o@°0 Under the fixed installment method of providing depreciation itis calculated 2/2 on:* © Ariginal cost © On balance amount © On scrap value © None of the above The main object of providing depreciation is * 02 CO To calculate true profit © To reduce tax @ To show true financial position © To provide funds for replacement of assets htpssdocs. google. comiformsa/FAlpQLSNIyXt 1E0-0uRCqWWVjKrmeUnjnaEvpgtCKhPMla_-c3HeAVviewscore?viewscar EDZAQAIKI-- 207... 218511372020 DEPRECIATION ACCOUNTING Depreciation is: * 212 O Anincome © Anasset ©@ Aloss CO Aliability Amachine which was bought for Rs.180,000 on 30 April 2008. The residual 0/2 value was Rs. 5,000 and depreciation rate was 25%. Depreciation is to be charged under the reducing balance method on month to month basis. Compute the depreciation at 31st December 2008 * Rs. 15000 Rs, 18000 Rs. 19000 Rs, 30000 Oo@o°0 Asset which have a limited useful life are termed as: * o/2 Limited assets Depreciation assets Unlimited assets @ooo None of these hitpsuidocs. google. comiformsd/e/FAlpQLSdNIyX: 1Em0-0uiRCqWVKmeUnjngEvpgiCKhPMla,_-c3HeAlviewscore?viewscore-AEQzAGAIXI Z6T... 318511372020 DEPRECIATION ACCOUNTING Depreciation arises because of * 22 @ Wear and tear © Decrease in capital © increase in value of assets © Decrease in value of assets A fixed asset cost Rs. 12,000 and sold for Rs. 5,000. At the date of disposal, its0/2 net book value is Rs. 2,000. So what is the profit or loss on disposal of this fixed asset? * CO Rs. 2000 (loss) @ Rs. 3000 (loss) © Rs. 2000 (profit) © Rs. 3000 (profit) Depreciation is provided on * 2/2 ©@ Fixed assets © Current assets © Intangibe assets © None of the above hitpssdocs. google. comiformsea/FAlpQLSNIyXt 1E0-0uRCAWWV)KrneUningEvpgtCKhPMla_-c3HeAWviowscore?viewscore EOZAQAIKI-- 207... 418511372020 DEPRECIATION ACCOUNTING Depreciation is accounting process of . 22 CE Allocation @ Vetuation © Appropriation © Apportionment Depreciation to machinery is debited to * 02 CO Profit & Loss account Machinery account Depreciation account C00 © Expenses and loss account Depletion method is most suitable for * 0/2 © mines and quarries © machines for which hourly rate of depreciation is vharged © building © none of the above htpssdocs. google. comiformsa/FAlpQLSNIyXt 1E0-0uRCqWWVjKrmeUnjnaEvpgtCKhPMla_-c3HeAVviewscore?viewscar EOAQAIKI-- 207... 518511372020 DEPRECIATION ACCOUNTING Under the straight line method of providing depreciation depreciation o/2 © Remains constant every year © Decreases every year © increases every year © None of the above Depreciation on plant will be written on the____* 22 © Profit and loss account O Trading Ave O Assets Ave © Balance sheet Total amount of depreciation provided on the written down value method at 0/2 the rate of 10% p.a. on Rs.10,000 for first three years will be, * @ s.2,107 © ps.2,701 O Rs.2,710 © Rs.3000 hitpssdocs. google. comiformsea/FAlpQLSNIyXt 1E0-0uRCAWWV)KrneUningEvpgtCKhPMla_-c3HeAWviowscore?viewscore EDZAQAIKI-- 207... 618511372020 DEPRECIATION ACCOUNTING ‘A motor van was bought for Rs.20,000 on 1 September 2005 witha residual 2/2 value ofRs.2,000. Depreciation was charged at 20% by the reducing balance method on yearly basis. It was sold for Rs.18,000 after three years of use on 30 September 2008.Compute the profit on sale of asset * Rs. 7,760, Rs, 505 Rs. 5,201 O00 © Rs. 990, Amount set apart to meet loss due to bad debts is a 7 0/2 @ Reserve Provision Profit ooo Rent Total amount of depreciation of an asset cannot exceed its * o2 © Scrap value @ Market value © Depreciation value hitpsuidocs. google. comiformsd/a/FAlpQLSdNIyX: 1Em0-0uiRCqWVjKmeUnjnaEvpgtCKhPMla,-c3HeAlviewscore?viewscore-AEQzAGAIXIK Z6T.... 7/8511372020 DEPRECIATION ACCOUNTING Which of the term is used to write off in reference to tangible fixed assets * 0/2 © Depletion O Depreciation © Amortization @ Bothbande Under the diminishing balance method depreciation it: * o2 O increases every year © decreases every year © Remains same © None of the above This form was created inside f Sri Krishna Adithya College of Arts and Science htpssdocs. google. comiformsa/FAlpQLSNIyXt 1E0-0uRCqWWVjKrmeUnjnaEvpgtCKhPMla_-c3HeAVviewscore?viewscar DAA 207... 18